Justin answers:

How can i invest money in india from another country?

I want to invest money in india(like gold ETF’s ,mutual funds,etc). But i live in US ,how can i invest money from here?can anyone please tell what are the best ways i can invest money in india and also the options(other than gold etf) where can i invest money in india?

Justin answers:

You can invest in ADRs here in the US. But to trade directly in their markets you must contact a broker who can do this. There are numerous tax considerations when trading outside the US which is one reason ADRs are an attractive alternative, coupled with the fact that they also require no special treatment. They are traded on the regular exchange.

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Robert asks…

On a turtle scale is there any real way to invest money when household funds are strapped?

Actually what’s the best way to invest money when strapped?

Justin answers:

There is a big difference between what we need and what we want. What I wanted was to retire early with a good income. So I cut my expenses to the bone to save as much as possible. I cut out cable TV, magazines, the newspaper, carried the thermos so as not to buy coffee, packed my own lunch, worked more overtime, and so. All to put as much as possible in to investments, which I learned about.

This is what people did in the past as a matter of habit. If you want to be richer, you can do it. Move to the lowest cost housing you can. Cut to the minimum.

You are probably saying that sounds bleak. It is not. It is difficult in the beginning but only to start because your money makes money.

Here is the trick. You reward yourself for saving by spending the money your money is making to buy back what you gave up. I called that free money. That makes it easier to save. After a number of years you find you can save more and have more to spend. As my income went up over the years I could then save more and spend less of the gains. I counted my 401k too including the company contributions. At that point you now have your money making more money and it multiplies a little faster all the time.

Plus rewarding yourself in that way means once you start, every month you have a little more money to spend.

As the years went on I was saving a greater percentage of my total income, including what my investments generated until my investments were generating more than I was earning by working.

So then I retired early.

All you have to do is start and live as far below your income level as possible and only increase your spending as you can afford it.

It is not how it can be done but how I did it. But most people are not willing to give up now for rewards later. I was. The main reason it works is that money makes money and more money makes more money.

Good Luck

Donald asks…

How do you invest money in stocks like what steps to take?

How do you invest money in stocks in what are the steps to take like how much money to start off with in who should I contact to talk about investing

Justin answers:

There is no set minimum amount of money needed to start investing. Yes, many broker firms have minimum deposits, but there are some out there that do not have any minimum requirements at all. I currently use Firstrade and they do not require any minimum deposits. However, I do think that you need some amount of cash or else your commission costs will be eating away your profits. On the other hand, knowing that you are a first-time investor, I would discourage you from investing too much money to avoid great losses. Test the water. Gain some experience before jumping in. To start investing, pick an online brokerage firm and contact them. If you want to learn more about Firstrade, you can visit their website: http://www.firstrade.com/.